Given the geopolitical developments with the USA attacking a Syrian air base, base metals prices have been little affected, although precious metals are up, while in China, iron ore and steel prices have fallen heavily.

Market participants seem to be waiting for something to provide direction and that impetus is likely to come from the testimony of the United States Federal Reserve chairman later today.

The base metals have opened up on a strong footing this morning, Tuesday January 10, boosted by stronger than expected PPI data out of China – it was up 5.5%, compared with 3.3% in November, although CPI slipped to 2.1% from 2.3%.

Base metals prices on the London Metal Exchange are broadly weaker this morning, Tuesday August 1, with losses averaging 0.4%. Copper and aluminium are little changed, with three-month copper prices at $6,378 per tonne, while the rest are down between 0.4% and 0.6%.

With the exception of that for lead, base metals prices on the Shanghai Futures Exchange fell heavily during the morning trading session on Monday March 9 after investor confidence was hit by the release of poor Chinese trade data over the weekend.

Base metals traded on the Shanghai Futures Exchange enjoyed more broad-based price gains during the morning trading session on Tuesday March 3, with risk sentiment buoyed by expectations of further stimulus measures to offset the negative economic impact of the novel coronavirus (2019-nCOV) outbreak.

Three-month base metals prices on the London Metal Exchange were in a steadier tone so far on Wednesday September 12, after they closed broadly lower on Tuesday amid dollar strength and rising trade war concerns.

With the exception of aluminium and nickel, base metals prices on the Shanghai Futures Exchange were little changed at the close of morning trading on Monday January 13.

Base metal prices were lower on the London Metal Exchange at the close of trading on Thursday April 19, despite aluminium volumes reaching a record-high 41,000 lots.

Base metals prices on the Shanghai Futures Exchange were mostly up during Asian morning trading on Friday January 25, with the complex following the stronger tone set by the London Metal Exchange three-month base metals prices on Thursday.